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psalm
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Joined: 12 Nov 2011
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Post: #4561  Posted: Fri Aug 10, 2012 1:43 pm Post subject: |
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I have a feeling that one shouldn't get carried away by the calmness prevailing in the market now...even after the heavy selling in the banks....the situation could change next week......watch out...  |
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psalm
Black Belt
Joined: 12 Nov 2011
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| Post: #4562 Posted: Fri Aug 10, 2012 1:47 pm Post subject: |
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| Market has immediate resistance in the range 5330-5340 range... |
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apka
Black Belt
Joined: 13 Dec 2011
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| Post: #4563 Posted: Fri Aug 10, 2012 1:48 pm Post subject: |
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SBIN sell off not affecting nifty is sort of signaling underlying buying strength is not weak. new high made intraday.
30 point premium in nifty now.
metals going strong and rupee appreciating. |
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psalm
Black Belt
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| Post: #4564 Posted: Fri Aug 10, 2012 1:56 pm Post subject: |
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| apka wrote: | SBIN sell off not affecting nifty is sort of signaling underlying buying strength is not weak. new high made intraday.
30 point premium in nifty now.
metals going strong and rupee appreciating. |
Market is showing more resilience than normal...there is no doubt about that....but there is nothing wrong in being a bit skeptical about it at this point of time....if the doubts turns out to be baseless, then its fine....else, watch out...  |
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chetan83
Brown Belt
Joined: 19 Feb 2010
Posts: 2036
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| Post: #4565 Posted: Fri Aug 10, 2012 3:25 pm Post subject: |
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| chetan83 wrote: | | psalm wrote: | | chetan83 wrote: | Sorry for the interruption........
Please comment, can we take this as a cup and handle formation in Nifty.....if yes, then watch PFC too.....it may head towards 215-220....
regards,
Chetan. |
Yes, Chetan....it looks very much like a Cup and Handle....but watchout for a convincing breakout of that pattern.....I really doubt if today's move can be considered as a breakout....By the way, consider another scenario....suppose the market goes down from here....wont it be like a double or tripple top???.....  ...so anything is possible....let's wait and watch....  |
Still a day or two to see the effect.... |
PFC failed in its attempt to go higher....
wat abt Nifty....today more volume since 25th June.....will there be upside on monday??? |
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psalm
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Joined: 12 Nov 2011
Posts: 5368
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| Post: #4566 Posted: Fri Aug 10, 2012 3:34 pm Post subject: |
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| chetan83 wrote: | | chetan83 wrote: | | psalm wrote: | | chetan83 wrote: | Sorry for the interruption........
Please comment, can we take this as a cup and handle formation in Nifty.....if yes, then watch PFC too.....it may head towards 215-220....
regards,
Chetan. |
Yes, Chetan....it looks very much like a Cup and Handle....but watchout for a convincing breakout of that pattern.....I really doubt if today's move can be considered as a breakout....By the way, consider another scenario....suppose the market goes down from here....wont it be like a double or tripple top???..... ...so anything is possible....let's wait and watch.... |
Still a day or two to see the effect.... |
PFC failed in its attempt to go higher....
wat abt Nifty....today more volume since 25th June.....will there be upside on monday??? |
Yea...PFC didn't sustain above 192 levels....by the way, cant rule out some buying on Monday.....I have a gut feeling that by tuesday or Wednesday, we'll have a clear idea about where we're heading.....I mean I'm expecting some directional move from next week onwards...... |
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psalm
Black Belt
Joined: 12 Nov 2011
Posts: 5368
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| Post: #4567 Posted: Mon Aug 13, 2012 9:38 am Post subject: |
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For the day, the market may find resistance in the range 5335-5350 range......The market will need at least 2 CLOSES above 5334 levels to have any sort of momentum on the upside. As long as we close below 5334 levels, the sentiments will be weak, I feel.....Immediate support for the market is around 5290 levels, below that we may test 5265-5270 range. Major support for the market is around 5240...if we break below that level convincingly.....the mood might change to bearish.....Current rate is around 5321 and the high made as of now is around 5329....Watch out...
Regards,
SAM |
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psalm
Black Belt
Joined: 12 Nov 2011
Posts: 5368
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| Post: #4568 Posted: Mon Aug 13, 2012 9:41 am Post subject: |
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| SBI has its major support in the range 1880-1860 range....below that the stock could be weak....If SBIN is weak, BankNifty and Nifty could be affected....watch out...current rate is around 1865 now... |
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sachin79
White Belt
Joined: 07 May 2011
Posts: 55
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| Post: #4569 Posted: Mon Aug 13, 2012 10:08 am Post subject: |
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| today we may close arnd 5280-5295 levels.. |
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psalm
Black Belt
Joined: 12 Nov 2011
Posts: 5368
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| Post: #4570 Posted: Mon Aug 13, 2012 10:15 am Post subject: |
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| sachin79 wrote: | | today we may close arnd 5280-5295 levels.. |
Agree with you....me too expect some directional moves by today or tomorrow(though my bias is still on the downside).....anyway, let's wait and see... |
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sachin79
White Belt
Joined: 07 May 2011
Posts: 55
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| Post: #4571 Posted: Mon Aug 13, 2012 10:30 am Post subject: |
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| bt sam i still believe 1 last move towards 5450 wil b ther during dis week..then breakdwn wil happen.. |
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psalm
Black Belt
Joined: 12 Nov 2011
Posts: 5368
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| Post: #4572 Posted: Mon Aug 13, 2012 10:42 am Post subject: |
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| sachin79 wrote: | | bt sam i still believe 1 last move towards 5450 wil b ther during dis week..then breakdwn wil happen.. |
Cant rule out that possibility(again, because of the Liquidity in the system), though looks less probable to me.....anyway, let's see.... |
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pkholla
Black Belt
Joined: 04 Nov 2010
Posts: 2890
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| Post: #4573 Posted: Mon Aug 13, 2012 11:08 am Post subject: |
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| Sam: 1) rumor is FIIs want to exit spooked by electricity crash and policy logjam, so will take market up to make a little more money 2) Central Gov wants 30000 cr disinvt 3) Maruti good news plant reopen+ battalion police for safety 4) SBIN good results. Will all these points not artificially take the market up? as suggested by Sachin, before the chain is pulled Regards, Prakash Holla |
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psalm
Black Belt
Joined: 12 Nov 2011
Posts: 5368
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| Post: #4574 Posted: Mon Aug 13, 2012 11:20 am Post subject: |
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| pkholla wrote: | | Sam: 1) rumor is FIIs want to exit spooked by electricity crash and policy logjam, so will take market up to make a little more money 2) Central Gov wants 30000 cr disinvt 3) Maruti good news plant reopen+ battalion police for safety 4) SBIN good results. Will all these points not artificially take the market up? as suggested by Sachin, before the chain is pulled Regards, Prakash Holla |
Yes, Prkash....its true.....at the same time, I really doubt if the FIIs will take the money from here anytime soon....they didn't mind when the market fell from 6300 levels to 5150 levels at first..and then 5700 to 4500 levels.....they didn't mind even when the market tested 4770 odd levels recently....instead they were pouring money into the markets.....so, I really doubt if they'll take out their investments at this point of time......anyway, let's wait and see.... |
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pkholla
Black Belt
Joined: 04 Nov 2010
Posts: 2890
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| Post: #4575 Posted: Mon Aug 13, 2012 11:36 am Post subject: |
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| Sam. Thanks. Prakash Holla |
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